Speaker 1: Bloomberg Audio Studios, Podcasts, radio News.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 3: Let's take a look at some stocks on the move.
Speaker 3: I'mmli Grafeo jumping ahead of Carol Masser here, and we're
Speaker 3: joined by Bloomberg News cross As reporter Tanitza Sikova. Okay,
Speaker 3: let's go to retailers.
Speaker 4: Yeah, we're talking about uncertainty in the economy, and what
Speaker 4: a better place to start than Walmart. Walmart had a
Speaker 4: pretty rough day yesterday and today's down about two percent.
Speaker 4: The ticker, of course, is WMT. The firm forecasted less
Speaker 4: earnings growth than analysts are expecting. Of course, we know
Speaker 4: Walmart is always on the conservative sides when it comes
Speaker 4: to earning sestimates, but still we're seeing some concerns because
Speaker 4: even HSBC cut their recommendation for the retailer from buy
Speaker 4: two hold, So clearly the analysts are taking seriously. What
Speaker 4: is happening is obviously the economy is expanding at a
Speaker 4: fast pace, but there aren't too many jobs being aut it,
Speaker 4: so clearly that's case shape recovery or whatever. You call.
Speaker 4: It is definitely weighing on the company. The number everyone
Speaker 4: is worried about is are they expect earnings to rise
Speaker 4: from two doors seventy five cents to two doors eighty
Speaker 4: five cents And the street was actually expecting nearly three doors,
Speaker 4: so pretty big gap that clearly is worrying investors. The
Speaker 4: stock is of more than nine percent year to day,
Speaker 4: so needless to say, there is just kind of a
Speaker 4: short term thing.
Speaker 1: It's also been on a tear, I mean more than
Speaker 1: what SEV twenty four, up about twenty three percent last year.
Speaker 4: For sure, and it's coming from a very strong rally well,
Speaker 4: and I.
Speaker 1: Think a lot of people like what they've been doing
Speaker 1: right in terms of some of the shifts and a
Speaker 1: lot of stress on digital.
Speaker 4: This show has been a big revenue for them or
Speaker 4: one of the grows fastest growing parts of the business
Speaker 4: for sure.
Speaker 3: All right, I ordered anything from Walmart though, yeah, I
Speaker 3: just think, like, I.
Speaker 4: Mean Amazon, I wouldn't think of it. Yeah right, you
Speaker 4: said Amazon. But Amazon is actually displaced Walmart as the
Speaker 4: company with the largest revenue today.
Speaker 1: But does that include a WS I think so. Yeah,
Speaker 1: So it's not apples to Apple, it's not like retail.
Speaker 1: The retail I've been looking.
Speaker 4: At ignore it's agnoment.
Speaker 3: All right.
Speaker 1: My understanding is Walmart is still the biggest physical retailer,
Speaker 1: like physical store retailers, like there's a distinction, right, all right, Amazon,
Speaker 1: I was thinking about We're going to go somewhere, but
Speaker 1: I'm thinking about your credit world. Yes, have you been
Speaker 1: talking a lot about Blue Owl.
Speaker 3: Yes, that's been the big focus right now, and in
Speaker 3: fact it's one of the most red stories on the
Speaker 3: Bloomberg terminal for today. It might even hit the most
Speaker 3: read for the week as well. Yes, we're closing out
Speaker 3: the week, but so much focus here on private credit
Speaker 3: and what it means for retail getting into private credit.
Speaker 3: Tell us about blue Owl stock. This is interesting because
Speaker 3: we get a public look to how this sector is performed.
Speaker 4: Yeah, for sure, BBC's it's something we've been looking for
Speaker 4: the rest of the time. Yeah, there was the whole
Speaker 4: conversation about cocroaches. But what we're seeing now is a
Speaker 4: lot of the funds that kind of appeared in the
Speaker 4: last few years, the whole exposure to retail. There's like
Speaker 4: Evergreen funds, interval funds. There was just like a slew
Speaker 4: of vehicles that now allow retails investors to access the
Speaker 4: space are under pressure. And blue Out is the example
Speaker 4: that is happening this week. The ticker is all WL.
Speaker 4: The stock is down about six percent now here today
Speaker 4: it's down twenty seven percent. And it's not only blue Out.
Speaker 4: We have rs, we have Apollo, we have black songe KKR,
Speaker 4: all those names in the private credit and private equity
Speaker 4: space are under a lot of pressure. What happened is
Speaker 4: there was a decision to restrict with drawers from one
Speaker 4: of its private credit funds, and of course those withdrawers
Speaker 4: were already quarterly. It's not like this is not atf
Speaker 4: you can all just go and withdraw your money. But
Speaker 4: now there is more and more pressure, and clearly investors
Speaker 4: are very jittery about down twenty seven percent year to date,
Speaker 4: and everyone has been looking for cracks when it comes
Speaker 4: to private credit, and fundraising has been really slowing down
Speaker 4: for private credit. So in terms of what's happening in
Speaker 4: the future, we're definitely seeing investor worry.
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